Brief: Allegiance Bancshares Inc And CBTX Inc To Combine To Create A Premier Texas Banking Franchise

Stellar Bancorp

08/11/2021 14:25

Nov 8 (Reuters) - CBTX Inc  CBTX.O :
    * PRESS RELEASE - ALLEGIANCE BANCSHARES, INC. AND CBTX, INC.
TO
COMBINE TO CREATE A PREMIER TEXAS BANKING FRANCHISE
    * ALLEGIANCE BANCSHARES INC - ALLEGIANCE SHAREHOLDERS WILL
RECEIVE
1.4184 SHARES OF CBTX FOR EACH SHARE OF ALLEGIANCE COMMON STOCK
    * ALLEGIANCE BANCSHARES INC - CO'S SHAREHOLDERS WILL OWN
ABOUT 54%
AND CBTX SHAREHOLDERS WILL OWN ABOUT 46% OF COMBINED COMPANY
    * ALLEGIANCE BANCSHARES INC - MERGER IS EXPECTED TO GENERATE
AN
ESTIMATED $35.5 MILLION OF RUN-RATE COST SYNERGIES BY 2023
    * ALLEGIANCE BANCSHARES INC - MERGER IS TARGETED TO DELIVER
40%
AND 17% ACCRETION TO CBTX'S AND ALLEGIANCE'S EARNINGS PER SHARE
IN 2023, RESPECTIVELY
    * ALLEGIANCE BANCSHARES INC - BOB FRANKLIN, CHAIRMAN, CHIEF
EXECUTIVE OFFICER AND PRESIDENT OF CBTX, WILL BE CHIEF EXECUTIVE
OFFICER OF COMBINED COMPANY
    * ALLEGIANCE BANCSHARES INC - STEVE RETZLOFF, CHIEF
EXECUTIVE
OFFICER OF ALLEGIANCE, WILL BE EXECUTIVE CHAIRMAN OF COMBINED
COMPANY
    * ALLEGIANCE BANCSHARES INC - RAY VITULLI, PRESIDENT OF
ALLEGIANCE, WILL BE CHIEF EXECUTIVE OFFICER OF COMBINED BANK
    * ALLEGIANCE BANCSHARES INC - PAUL EGGE, CHIEF FINANCIAL
OFFICER
OF ALLEGIANCE, WILL BE CHIEF FINANCIAL OFFICER OF COMBINED
COMPANY

Source text for Eikon:  ID:nGNX6gjDKP 
Further company coverage:  CBTX.O 

 ((Reuters.Briefs@thomsonreuters.com;))